Norwegian oil giant Statoil is hoping to extend the life of its historic Gullfaks development until 2040 by upgrading its loading systems.
The two existing loading buoys have facilitated the transfer of 2.55billion barrels since the start of production in 1986.
The new system, currently being buoyed to come online mid-September, will have the same oil loading capacity as the existing systems, but will be easier to operate, Statoil said.
The new buoys will reduce the need for logistics and maintenance transportation, the firm added.
“This is an important value enhancement project for the Gullfaks field,” said Øystein Arvid Håland, asset manager for development and production.
“Gullfaks needs to have reliable loading systems for crude oil export in the future. The two existing loading systems and loading buoys installed in 1986 and 1987 are approaching the expected design life of 30 years.”